Retail superannuation funds, including those offered by AMP have shared the laurels with industry and corporate funds in the latest Heron Partnership Quality Star Ratings released this week.
The ratings covered 190 major superannuation products, which included 39 commercial products, 45 industry funds, eight Government-designated funds, 21 specialist corporate products and 77 pension funds.
Of the 113 superannuation products assessed, 82 were judged as outstanding quality and awarded 5 Heron Quality Stars.
Commenting on the assessment, Heron Partnership managing director, Chris Butler said the primary goal of the rating process was to provide a realistic and objective representation of the product strengths and weaknesses.
The Heron ratings also covered MySuper products which saw 22 funds awarded five star status, with industry superannuation funds dominating.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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